Bob Diamond Was Pretty Annoying During The LIBOR Hearinghttp://www.businessinsider.com/bob-diamond-was-pretty-annoying-during-the-libor-hearing-2012-7/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 31 Mar 2015 17:43:49 -0400Juliette Jowithttp://www.businessinsider.com/c/4ff602fc6bb3f7514f000017Michael T.Thu, 05 Jul 2012 17:11:24 -0400http://www.businessinsider.com/c/4ff602fc6bb3f7514f000017
Mike -
I agree with you. If we step away for a moment from the "Bankers = Bad" equation that too often passes for analysis around here, then Diamond actually did an amazing job. My further take here: <a href="http://www.bankers-anonymous.com/blog/diamond-out-aka-blaming-the-wrong-guy-again/" target="_blank">http://www.bankers-anonymous.com/blog/diamond-out-aka-blaming-the-wrong-guy-again/</a>http://www.businessinsider.com/c/4ff5cf9869beddd239000001elvismanThu, 05 Jul 2012 13:32:08 -0400http://www.businessinsider.com/c/4ff5cf9869beddd239000001
Teresa Pearce has now shown the whole world that she is a self-important, grandstanding b!tch. Do your damn job, woman! Stop complaining about someone being "rude" and fix the damn problem. I think she's the Maxine Waters of the UK parliament --- thinks she's smart, likes to hear herself talk (or tweet), but is really a dimwitted fool....http://www.businessinsider.com/c/4ff53072ecad041a2400003aWrongThu, 05 Jul 2012 02:13:06 -0400http://www.businessinsider.com/c/4ff53072ecad041a2400003a
Barclays was caught submitting false, but artificially LOWER, interest rates to the governing body that sets the LIBOR rate (by averaging the middle 50% of submissions from 16 banking institutions). The LIBOR acts as the foundation for other lending rates around the world, so this change, albeit small, was actually decreasing the cost of borrowing. The reason they did this wasn't to make money, but to make it appear that everything was fine during the crisis so the government didn't partially nationalize the bank as they did with Royal Bank of Scotland and Lloyds.http://www.businessinsider.com/c/4ff4f23aeab8ea796d000004Opal GarnetWed, 04 Jul 2012 21:47:38 -0400http://www.businessinsider.com/c/4ff4f23aeab8ea796d000004
Not gonna happen....maybe if it were in China there will be some executions...but in the West, just a slap on the wrist while the other hand is asking for a handout or "campaign contribution".http://www.businessinsider.com/c/4ff4de6269bedd3e06000003WhoaWed, 04 Jul 2012 20:22:58 -0400http://www.businessinsider.com/c/4ff4de6269bedd3e06000003
Sounds like he pulled off a financial miracle. Wait... That miracle was probably paid for by artificially increasing their "borrowing costs" which they then passed on to the customers no doubt.
He must be a graduate of a US business school. /that was just a lucky guess.http://www.businessinsider.com/c/4ff4c97369bedd2559000001Dalai GuevaraWed, 04 Jul 2012 18:53:39 -0400http://www.businessinsider.com/c/4ff4c97369bedd2559000001
The day might come when blowing up a financial institution would no longer be considered an act of terrorism but liberation.http://www.businessinsider.com/c/4ff4c84169bedd9149000005Mike M.Wed, 04 Jul 2012 18:48:33 -0400http://www.businessinsider.com/c/4ff4c84169bedd9149000005
Since joining Barclays around the turn of the century, Diamond has done the impossible by being an American who move from executive (head of Barclay's Investment Bank) to CEO of an iconic British financial institution. He also, frankly, saved their butts by diversifying the business model away from just bond offerings and into structured products and derivatives. He then engineered a coup by taking over the best of the defaulted Lehman Brothers for a song.
While I won't defend his arrogance or the crimes that happened under his watch, I'd explain his arrogance with the British MPs as being uniquely American. We Americans see our politicians as public servants, who owe us deference. Not so much across the pond. Diamond has succeeded admirably as an American in a British system, but he can't shed the essential American assumption that government representatives owe us answers well before they question us.http://www.businessinsider.com/c/4ff4befdecad04e066000004WhatsItAllAboutAlphieWed, 04 Jul 2012 18:09:01 -0400http://www.businessinsider.com/c/4ff4befdecad04e066000004
The Ode to Debt and Death
<a href="http://is.gd/L5nFXh" target="_blank">http://is.gd/L5nFXh</a>http://www.businessinsider.com/c/4ff4b606eab8eac76b00000bJohn1066Wed, 04 Jul 2012 17:30:46 -0400http://www.businessinsider.com/c/4ff4b606eab8eac76b00000b
Why should he be nice? He got his millions in the bank. I wonder how much of that was from this scandal?http://www.businessinsider.com/c/4ff4a9ca69beddad0d000026BonkersWed, 04 Jul 2012 16:38:34 -0400http://www.businessinsider.com/c/4ff4a9ca69beddad0d000026
Oh right, good point. He'll probably just get kicked out of the country club instead.
:sad banana"http://www.businessinsider.com/c/4ff4a017eab8ea3b42000004StockCreeper_loves_goatsWed, 04 Jul 2012 15:57:11 -0400http://www.businessinsider.com/c/4ff4a017eab8ea3b42000004
Bankers can get charged with fraud?http://www.businessinsider.com/c/4ff49ac1ecad04342500000cBonkersWed, 04 Jul 2012 15:34:25 -0400http://www.businessinsider.com/c/4ff49ac1ecad04342500000c
Something tells me this is going to change from a "scandal" to "fraud", and homeboy is going to see some jail time.